CAP Rate: 7.00%
Net Operating Income: $314,119
Year Built: 1997
This is the unique opportunity to purchase a long term absolute NNN leased On The Border restaurant in College Station, Texas. The absolute NNN lease provides for zero landlord obligations and calls for 2% annual increases in rent. The lease is corporately guaranteed by On The Border, a strong and experienced operator with ~160 units.
This asset is ideally positioned in a major retail trade area and is nearby Texas A&M University. The property is located nearby several national retailers including Denny’s, Best Buy, and Barnes and Noble. On the Border also benefits from heavy traffic counts of nearly 38,000 VPD along S Texas Ave and over 42,000 VPD along University Drive.
College Station is a city in Brazos County, Texas, situated in East-Central Texas in the heart of the Brazos Valley, in the center of the region known as Texas Triangle. It is 90 miles northwest of Houston and 87 miles northeast of Austin. As of the 2010 census, College Station had a population of 93,857, which had increased to an estimated population of 119,304 as of August 2018. College Station and Bryan together make up the Bryan-College Station metropolitan area, the 14th-largest metropolitan area in Texas with 255,589 people as of 2015.
College Station is home to the main campus of Texas A&M University, the flagship institution of the Texas A&M University System. The city owes both its name and existence to the university’s location along a railroad. Texas A&M’s triple designation as a Land-, Sea-, and Space-Grant institution reflects the broad scope of the research endeavors it brings to the city, with ongoing projects funded by agencies such as NASA, the National Institutes of Health, the National Science Foundation, and the Office of Naval Research.